The Seattle start-up Unikrn has already raised $25 million for an initial coin offering
Unikrn will sell virtual tokens for use on its platform to bet on sporting events
Some big names are participating in Unikrn's unique initial coin offering.
The Seattle startup launched an initial coin offering, or ICO, this past Friday and has already raised $25 million, Unikrn CEO Rahul Sood told GeekWire.
Unikrn is selling virtual tokens called UnikoinGold that can be used on its platform to bet on esports matches. Those tokens can be exchanged for other major cryptocurrencies, such as ethereum and bitcoin, which can then be exchanged for U.S. dollars.
UnikoinGold is based on the ethereum blockchain, which is similar to Bitcoin, the largest digital currency that was trading up more than 7 percent on Monday despite concerns about regulation in China.
Mark Cuban "It's just a bubble"
yeah i know right, maybe he was just trying to keep prices depressed while he buys in.
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Esports betting is very promising these days. And there are quite a lot of different platforms for gaming bets created on blockchain.